KOTA KINABALU: All major infrastructure at Palm Oil Industrial Clusters (POIC) Lahad Datu have been completed, while those for POIC Sandakan are still ongoing, said Sawit Kinabalu Group managing director Othman Walat.
He said it would be a long process to complete both clusters, which are part of the Sabah Development Corridor.
They are going to be a long-term investment for the state, he added.
“POIC Sandakan is being developed to capture downstream processing of palm oil, so its fundemental is huge,” he said.
Meanwhile, Othman also said Sawit Kinabalu was hoping for better palm oil prices this year, especially with the depressing situation at the moment.
“We are now in the middle of August, and the price is really depressed. Meaning to say, if our production increases and the price is maintained or improved further, we will see a good number this year.
“According to our revision, 2011 was a good year for the palm oil industry, where we received a very healthy margin and profit,” he said in a press conference at Sawit Kinabalu Hari Raya open house at its head office, here, yesterday.
Chief minister Datuk Seri Musa Haji Aman was the guest of honor of the event which was attended by the company’s stakeholders.